Cadbury Sustains Profitability With N252m In Q3

Cadbury Nigeria Plc has been able to sustain profitability in its financial results for the third quarter (Q3), 2018, recording N252.79 million profit before tax. It would be recalled that the company returned to profitability in its year end results, December 31, 2017.

According to the company’s result released on the Nigerian Stock Exchange (NSE), yesterday, the profit before tax grew by 492.21 per cent to N252.79 million, compared to a loss of N64.45 million in the corresponding period of 2017.

The company’s profit after tax, in Q3, 2018 showed a 366.78 per cent Year-on-Year (YoY) growth to N171.95 million, while earnings per share also increased from a negative earnings of three kobo in Q3, 2017 to positive earnings per share of nine kobo in 2018.

Transcorp recorded a revenue of N26.96 billion, showing a 10.65 percent growth from N24.37 billion in 2017, cost of sales grew by 14.34 per cent to N21.65 billion from N18.94 billion in Q3, 2017, leading to a gross profit of N5.31 billion.

Finance income declined to N99.34 million from N128.01 million, while finance cost up from N230.74 million in 2017 to N525.78 million under the period review.

Company’s total assets dipped to N25.76 billion, from N28.42 billion as at December 31, 2017, while shareholders equity stood at N11.61 billion as against N11.74 billion as at December 31, 2017.

Chairman of the company, Mr. Atedo Peterside, said that going forward, the company would sustain its focus on quality, drive improvement in productivity and reinforce operational efficiencies in order to maximize its competitive advantage.

According to him, key priorities of the company for 2018 include sustaining focus on quality, driving improvements in productivity and reinforcing operational efficiencies to maximise Cadbury’s competitive advantage.

“Also, the company intends to drive growth ahead of competition to increase market share within its product categories, developing an organisation of high potential talent and sustaining the company’s aggressive Route-to-Market initiatives.”